https://www.miningweekly.com

Zwane gazettes Mining Charter review for comment

29th April 2016

By: Martin Creamer

Creamer Media Editor

  

Font size: - +

Mineral Resources Minister Mosebenzi Zwane last Friday gazetted the draft reviewed broad-based black economic-empowerment Mining Charter for public comment.

The Ministry said in a release that the draft sought to strengthen the charter’s efficacy to effect meaningful transformation of South African mining.

It also sought to integrate government’s transformation policies and legislation in order to “enhance the ease of doing business, create regulatory clarity, predictability and certainty”.

It was aligned, the Minister said, to the provisions of the Broad-Based Black Economic Empowerment Act of 2003 and the Codes of Good Practice and it would be published for 30 days from last Friday, during which time there would be engagement with organised mining business and labour.

Written comments should be submitted by May 31.

In its response, the Chamber of Mines noted the publication of the new draft, which would be used as the basis for engagement between the Department of Mineral Resources and key industry stakeholders.

The chamber added in a release to Creamer Media’s Mining Weekly that, in a meeting last Friday morning, the Minister and the chamber team agreed on a process over the coming month, or beyond if necessary, to deal with the content of a revised version of the Mining Charter.

The chamber said that last Friday was the first sight the industry had had of the draft and was currently studying its content.

It described the original Mining Charter as the instrument that gave effect to the intentions of the Mineral and Petroleum Resources Development Act.

It initially came into effect in 2004 and a revised version was gazetted in 2010.

Member companies continued to be committed to the achievement of all the transformation objectives of the charter and, for the most, had met the targets set by the 2010 version.
A further factor to be considered was that the chamber was currently seeking clarity through the High Court on the interpretation of black economic-empowerment ownership transactions carried out between 2004 and 2014.

This decision, which was only expected later this year, would undoubtedly influence both the assessment of the industry’s historical performance in terms of ownership and the way forward and could significantly influence the latest draft version.

“With more than a decade of the application under our belt, we have better understanding of the drivers of transformation that yield the most desirable outcomes, and some of the potential pitfalls.

“We look forward to constructive interaction with government and the other stakeholders in the period ahead. “It is in all of our interests that a mutually acceptable version of the revised charter is finalised at the earliest opportunity,” chamber president Mike Teke said.

Harmony Gold CEO Peter Steenkamp said in a release that his company would “actively participate” in the discussions on the provisions of the draft charter to ensure that the interests of all its stakeholders were protected.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.15 0.183s - 88pq - 2rq
Subscribe Now